Can I ask for the solutions for this problem? This is about Intermediate Accounting.

Problem#1

On Jan. 1, 2020, Secre Company issued 12% bonds with face amount of 4,000,000 for 4,200,000.

Interest is payable annually on Dec. 31 and the bonds mature on Jan. 1, 2025.

On Dec. 31, 2020, bonds with face amount of 1,000,000 were redeemed at 95.

The entity used the straight line method of amortization.

Requirements:

1.) Carrying amount of Bonds Payable on Jan. 1, 2020

2.) Premium Amortization on 2020

3.) Interest Expense on 2020

4.) Gain/Loss on Bond Redemption on 2020

5.) Premium Amortization on 2021

6.) Interest Expense on 2021

7.) Carrying Amount of Bond Payable on Dec. 31, 2021